NOTE 3: STRATEGIC INVESTMENTS

As of June 30, 2017, we owned 156,552,484 shares, or approximately 32%, of our unconsolidated affiliate Cash Converters International Limited ("Cash Converters International"). The following tables present summary financial information for Cash Converters International’s most recently reported results as of June 30, 2017 after translation to U.S. dollars:



	December 31,
	2016		2015

	(in thousands)
Current assets	$	158,235	$	176,105
Non-current assets	141,218		143,466
Total assets	$	299,453	$	319,571

Current liabilities	$	70,468	$	68,857
Non-current liabilities	48,181		48,263
Shareholders’ equity:
Equity attributable to owners of the parent	$	180,803	$	202,450
Noncontrolling interest	1		1
Total liabilities and shareholders’ equity	$	299,453	$	319,571



	Half Year Ended December 31,
	2016		2015

	(in thousands)
Gross revenues*	$	108,161	$	110,219
Gross profit*	74,343		81,139
Net profit	8,633		11,483


*	Cash Converters International announced during its fiscal 2016 that certain of its United Kingdom operations would be discontinued, including a historical recasting of such operations as discontinued operations. We have recast the above information pertaining to the half year ended December 31, 2015 to reflect this historical recasting.

During the nine months ended June 30, 2017, the fair value of our investment in Cash Converters International declined below its carrying value. We considered the guidance in FASB Accounting Standards Codification ("ASC") 320-10-S99-1 in evaluating whether the impairment was other-than-temporary and whether to measure and recognize any other-than-temporary impairment. We noted the primary factors in determining that the decline in fair value was not other-than-temporary were the length of time and the extent to which the market value has been less than cost as well as our intent and ability to hold our investment in Cash Converters International for a period of time sufficient to allow for any anticipated recovery in market value. We do not believe the decline in fair value is other-than-temporary.

We continue to monitor the fair value of our investment in Cash Converters International for other-than-temporary impairments in future reporting periods and may record an impairment charge should the fair value of our investment in Cash Converters International remain below its carrying value for an extended period of time. We have previously recorded impairments on our investment in Cash Converters International in fiscal 2016 and 2015. See Note 4 for the fair value and carrying value of our investment in Cash Converters International.